Prepare journal entries for Iron Citys general fund for the following, including any adjusting and closing entries on December 31, 20X1 (the end of the fiscal year):

Required:

b. Ordered new furniture for the city council meeting room on September 17, 20X1, at an estimated cost of $16,000. The furniture was delivered on October 1; its actual cost was $15,300, its estimated life is 10 years, and it has no residual value. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. Record the encumbrances for the purchase orders of the new furniture in 20X1. 2. Record the reverse reserve for the furniture received in 20X1.

3. Record the receipt of the furniture at the actual cost in 20X1.